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Thinking of starting a new business? Expanding the business you already run? Introducing a new product or service? Wouldn't it be nice to have a good idea of how successful you'll be before you even start? That's the moneymaking edge that smart market research can give you.
You've probably heard that market research is expensive — a business luxury only big companies can afford. That's partly true. Even a relatively modest research program can eat up several hundred thousand dollars in a hurry. However market research doesn't have to be so complicated that only expensive consultants can figure it out.
Here are some very simple, do–it–yourself ideas and tools for getting a pretty good idea of where you stand — before you shell out big bucks for marketing and advertising.
You want your questions to be carefully written so that they do not confuse or suggest "correct" answers to the respondent. Here are some general guidelines: